Crypto Market Sees Red as Bitcoin Price Drops $600 in 30 Minutes
Beginning at 17:50 UTC and lasting until 18:20 UTC, BTC witnessed a large pullback from $10,200 to $9,600.
![Drop](https://www.coindesk.com/resizer/mttWj8s5nDyiVd7ElbJox-aKIoM=/567x378/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JNVLNBDQXZHYRETLIJIHQFWK2A.jpg)
Bitcoin's price slid more than $600 in 30 minutes, falling back below $10,000 on Wednesday.
Beginning at 17:50 UTC and lasting until 18:20 UTC, BTC witnessed a large pullback from $10,200 to $9,600, followed by a small bounce near $9,740, providing temporary support.
![coindesk-btc-chart-2019-08-28](https://www.coindesk.com/resizer/H56j2XQRFSSqPF83OvF2EiMNbRw=/560x440/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6JID7LL6CVAJPBKGJXPZADAJIQ.png)
Bitcoin opened the day at just under $10,200. Over the trading day, BTC broke above $10,250 a handful of times. The action culminated with a 30-minute sell-off.
At the time of writing, BTC is currently changing hands at $9,700.
Major names such as ether (ETH), litecoin (LTC), XRP (XRP) and EOS (EOS) also began to fall in value at around the same time as BTC, losing between 5-10 percent alongside bitcoin.
Indeed, most of the cryptocurrencies on CoinMarketCap's list of top 100 cryptocurrencies and tokens saw red.
Disclosure: This author holds bitcoin at the time of writing.
Rollercoaster image via CoinDesk archives